A Decade of NEPAD - Economic Commission for Africa - uneca

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32 A Decade of NEPAD: Deepening African Private Sector and Civil Society Ownership and Partnership 2005 G8 Summit in the UK, Japan agreed to spearhead funding for the establishment of The Enhanced Private Sector Assistance (EPSA) Initiative. Drawing on the successful development experience in Asia and around the globe, EPSA was conceived in partnership with the Government of Japan as an innovative, multi-component, multi-donor framework for resource mobilization and development partnership to support implementation of the African Development Bank’s Strategy for Private Sector Development. According to the original EPSA announcement and the pledge by the Japanese Government at the Gleneagles Summit, during 2006 to 2010, the Japanese International Cooperation Agency committed to provide a total of US$1 billion in concessional loans through a combination of direct lending to the AfDB under the EPSA Non-Sovereign Loan component, facility, and co-financing under the Accelerated Co-financing for Africa (ACFA) scheme. In addition, the government of Japan agreed to contribute grant resources to the Fund for African Private Sector Assistance (FAPA), beginning with an initial contribution of US$20 million. The Non-Sovereign Loan component helps finance the AfDB’s private sector operations through a line of credit from the Japan International Cooperation Agency (JICA) to the Bank on concessional terms. The first loan was signed on 20 February 2007 in the amount of JPY 11.5 billion (equivalent to US$100 million). Disbursement of the first loan was completed during 2008 and the loan was closed in October. At the Tokyo International Conference on African Development (TICAD) end-May 2008, Japan pledged the “Second Private Sector Assistance Loan Under the Joint Initiative – Titled EPSA for Africa” in an amount of JPY 32.1 billion (equivalent to US$ 300 million), again on highly concessional terms. The bilateral Exchange of Notes and Loan Agreement were signed on September 11, 2008, and a first disbursement of JPY 30 billion was drawn immediately thereafter. Thus far, the EPSA Non-Sovereign Loans have supported investment and financing of a number of regional infrastructure and financial sector projects as well as clean energy projects in Uganda and Madagascar and SME/ Microfinance projects in Nigeria and Tanzania. The Accelerated Co-financing Facility for Africa provides joint financing on concessional terms from JICA for AfDBled public investment projects. Five projects totaling roughly US$170 million in JICA cofinancing have been approved since 2005. Added to the US$ 100 million First EPSA Non-Sovereign Loan from 2007 and the US$ 300 million Second EPSA Loan signed in 2008, total commitments have reached US$570 million, more than half of the original US$1 billion pledge to be achieved between 2006 and 2010. The Fund for African Private Sector Assistance provides grant funding for technical assistance and capacity building for the Bank’s public and private sector clients. The Board approved FAPA on 12 October 2005 and the related documentation was executed on 24 January 2006. Japan has committed and disbursed US$20 million to launch FAPA, initially as a bilateral fund, and has indicated interest in continued providing support to FAPA as a multi-donor fund. At the 2008 AfDB Annual meeting in Maputo, Mozambique, the Board of Governors provided a resounding endorsement of FAPA by allocating a further US$7.5 million to the Fund from the net income of the Bank, bringing total available resources to approximately US$27.5 million. Twelve grants were approved during 2008 bringing total FAPA commitments (counting prior years) to over US$15 million and leaving an available balance at year-end of approximately US$12.5 million. In May 2008, Japan also announced its decision to establish a US$2.5 billion investment fund, The Facility for African Investment (FAI), managed by the Japanese Bank for Infrastructure and Construction, as part of its aim to double Japanese private sector investment in Africa to $3.4 billion by 2012. 43 43 African Economic Outlook 2009, AfDB/ OECD, p. 41
India India and Africa have had ties since the colonial era when the United Kingdom brought workers from India to various countries in Africa, particularly east and southern Africa, to work on agricultural, rail and road building projects, support port and trade development initiatives, and to serve in administrative capacities on the continent during the colonial era. Thus, in Uganda, Tanzania, Kenya, Mauritius, Nigeria, Zimbabwe and South Africa, significant numbers of Indians came – and many settled in these African countries. In South Africa, in particular, the Indian population has become so large that the community in the province of KwaZulu-Natal has become the largest Indian community in the world outside of India. On March 31, 2002, the “Focus:Africa” Programme was launched by the Ministry for Commerce & Industry during the announcement of India’s “export-import” promotion policy for the years 2002-2007. During the first year (i.e. 2002-2003) of the Focus:Africa Programme emphasis was placed only on seven targeted countries: South Africa, Ghana, Tanzania, Mauritius, Nigeria, Kenya and Ethiopia. These seven countries accounted for nearly 70 per cent of India’s total trade linkages with the Sub-Saharan African Region in 2000-2001. Similarly, certain target commodities for export focus were also identified, including: ӹ Cotton yarn, fabrics and other textile items; ӹ Drugs & pharmaceuticals; ӹ Machinery & instruments; ӹ Transport equipment; and ӹ Telecom and information technology Recognizing the potential for further growth in trade with the African continent, from April 1, 2003 the Indian government extended the benefits available under the Focus: Africa Programme to all of the countries of Sub- Saharan Africa where India had Missions, and to five of the countries of North Africa. Hence the total number of countries covered under the Focus: Africa Programme was increased from the initial seven countries to twenty four countries on the African continent, including Angola, Botswana, Ivory-Coast, Zambia, Zimbabwe, Egypt, Sudan, Algeria, Libya, Morocco and Tunisia. 3. Public Sector Support for NEPAD A Decade of NEPAD The Focus: Africa Programme also coincided with the emergence of the New Partnership for Africa’s Development (NEPAD). In 2003, the Confederation of Indian Industry and the country’s EXIM Bank, in collaboration with the Ministry of External Affairs, organized a conference called `India and NEPAD: Furthering Africa India Economic Cooperation’. The conference was attended by nearly 30 African representatives, including participants from the central banks of Egypt, Ethiopia, Ghana, Kenya, Mauritius, Mozambique, Namibia, Senegal, South Africa, Sudan, Tanzania, Uganda and Zambia. Also present were heads of regional banks, such as the Development Bank of Southern Africa, the Eastern Africa Development Bank, and Afreximbank. At the conference, the Minister of State for External Affairs of India expressed the hope that the Focus: Africa programme would provide a functional framework for Indian interaction with individual countries and also regional groups in Africa to enhance trade, commerce and investment related work. Under the Focus: Africa Programme, the Department of Commerce and Federation of Indian Chambers of Commerce & Industry also jointly organized the 2nd India Africa Health Summit from 19-21, November, 2003 in Mumbai. At this forum, health ministers, directors of health services and chief representatives of registration agencies from 24 African countries attended and interacted with leading Indian manufacturers to discuss the sourcing of their health-care requirements from India. Also under the Focus: Africa Programme, the Ministry of Commerce & Industry of the government of India and the Federation of Indian Chambers of Commerce & Industry (FICCI) jointly organised the India-Africa Summit on Water Partnership from 11-12 Feb. 2004 at Pune, Maharashtra. The Programme comprised of an international conference on the first day and one to one meeting/ field visits on the second day. In the spirit of the aims of the Focus: Africa Programme, and as a show of support for the ideals and programmes of the African Union, the government of India also pledged $200 million in 2003 in the form of a line of credit to the New Partnership for Africa’s Development (NEPAD), creating the “India – Africa Fund”. 33
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